...If you get a FATCA letter, you should immediately speak with a competent tax attorney to ascertain your US tax compliance. Several voluntary disclosure solutions are available to noncompliant persons...
...and it is used to claim a credit against your U.S. income tax for income taxes paid in the foreign country. This credit applies both to foreign earned income (wages,...
...of the comments. Below are the comments. EXECUTIVE SUMMARY These Comments are presented in connection with the Department of the Treasury’s and Internal Revenue Service’s effort to collect information...
There is a lot of misinformation so we decided to debunk the top myths of US tax compliance. Myth #1: I don’t have to file US taxes if I live...
...(holder of a green card for eight out of the last 15 years) who ceases to be a lawful permanent resident, and whose average annual income tax liability for the...
...taxable person (U.S. citizens or U.S. green card holders) owns a controlling stake in a foreign business, that business is likely a Controlled Foreign Corporation (CFC) for U.S. tax purposes....
1. FATCA (Foreign Account Tax Compliance Act of 2009) requires disclosure of your account information. A. July 1, 2014 FATCA withholding began. B. FATCA requires a 30 percent withholding tax...
India and the US today signed an agreement to implement the Foreign Account Tax Compliance Act (FATCA) that will facilitate exchange of information between the two countries starting on October...
India is expected to sign an inter-governmental agreement (IGA) for the US tax compliance law Foreign Account Tax Compliance Act (FATCA) tomorrow. FATCA is aimed at combating possible tax evasion...
...IRS has been targeting FBAR compliance over the last several years and has prosecuted numerous non-compliant taxpayers. FBAR filings have risen dramatically in recent years as the Foreign Account Tax...
The “United States Permanent Resident Card”, also known as a Green Card, as a work and residence permit for the USA of unlimited duration and as an immigration visa, constitutes...
...ago as an investigation into offshore credit card abuses with a team of one investigator and two legal counsels. Following the UBS case, the IRS issued seven additional John Doe...
